2003 Session

Budget Amendments - SB700 (Member Request)

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Chief Patron: Norment
CWM - Supplement funding for Swem Library (language only)

Item C-11.05 #1s

Item C-11.05 #1s

Education: Higher Education
The College of William and Mary in Virginia

Page 511, after line 23, insert:
"A.  Out of this appropriation, $3,540,057 is provided through the Virginia College Building Authority to supplant the general fund appropriation provided in Chapter 924,
1997 Virginia Acts of Assembly.  Supplemental funding in the amount of $4,500,000 is provided through the Virginia College Building Authority to address additional renovation costs associated with this project."

(This amendment replaces $2.25 million in institution-supported debt included as supplemental funding by the Governor in SB 700. As introduced, the Governor included $4.5 million in bond proceeds to supplement this project with half of the funds coming from the Virginia College Building Authority (VCBA) and the remainder being supported through institution-backed debt. This amendment replaces the $2.25 million in institution-supported debt with VCBA bonds. General fund support will be required to support the debt service for the additional VCBA bonds.)